Science Based Targets Initiative (SBTi)

The Science Based Targets Initiative (SBTi) plays a crucial role in helping businesses align their climate goals with the Paris Agreement. The initiative provides companies with a framework for setting science-based emissions reduction targets that are consistent with limiting global temperature rise to 1.5°C or well below 2°C above pre-industrial levels. By committing to SBTi, companies demonstrate their dedication to sustainability, reducing climate risks, and contributing to global efforts to combat climate change.

For businesses, adopting science-based targets helps integrate climate considerations into corporate strategy. It shows investors, regulators, and consumers that they are taking concrete steps to mitigate their environmental impact. SBTi is widely regarded as the gold standard for corporate climate target setting.

Carbmee supports businesses in setting and achieving science-based targets by providing solutions that allow companies to measure and manage their carbon footprint. Through Carbmee’s Emission Intelligence Solution (EIS), companies can track their emissions in real time, assess their progress, and develop strategies to achieve their climate goals. Learn how Carbmee helps businesses meet SBTi requirements.

The importance of aligning corporate climate strategies with science-based targets cannot be overstated. Companies that set SBTi-aligned goals are not only helping to mitigate global climate risks but are also future-proofing their businesses. As regulatory pressures, investor expectations, and consumer preferences continue to evolve in favor of sustainability, companies that take proactive steps toward emissions reduction will benefit from:

Regulatory Preparedness:
As governments around the world introduce stricter climate regulations, companies that have set and achieved science-based targets will be well-prepared to comply with future regulations, such as the EU’s climate regulations and the European Green Deal.

Investor Confidence:
Investors are increasingly factoring in ESG performance when making decisions, and companies that have committed to science-based targets send a strong signal that they are managing climate risks effectively. This can lead to better access to capital and more favorable investment terms.

Competitive Advantage:
Consumers and business partners are more likely to favor companies that demonstrate strong climate leadership. Companies aligned with SBTi are seen as leaders in their industries, driving innovation and sustainable growth while reducing their environmental impact.

Setting science-based targets requires companies to evaluate their entire emissions footprint, including scope 1, scope 2, and scope 3 emissions. Carbmee’s platform provides businesses with the tools to calculate, track, and reduce their emissions across all scopes:

Scope 1 (Direct Emissions):
These are emissions from sources that a company owns or controls directly. Carbmee’s Emission Intelligence Solution allows businesses to measure and monitor direct emissions from processes like manufacturing or transportation, helping them reduce emissions and align with SBTi targets.

Scope 2 (Indirect Emissions):
Scope 2 emissions are associated with the electricity, heating, and cooling that a company purchases and consumes. Carbmee’s platform tracks these emissions and helps businesses optimize their energy consumption through renewable energy adoption and energy efficiency measures.

Scope 3 (Value Chain Emissions):
Scope 3 includes all other indirect emissions that occur in a company’s value chain, such as emissions from suppliers, distribution, and product use. Tracking these emissions can be complex, but Carbmee’s tools offer transparency across the entire supply chain, enabling businesses to reduce their carbon footprint in line with SBTi standards.

The process of setting science-based targets involves several key steps, from initial commitment to target validation and implementation. Carbmee helps companies at every stage of this process:

Initial Commitment:
The first step is committing to set science-based targets by signing the SBTi commitment letter. Carbmee helps businesses assess their current emissions and identify key areas for reduction.

Target Development:
Companies must develop their targets according to SBTi’s criteria, ensuring they are ambitious enough to meet the 1.5°C or well below 2°C targets. Carbmee’s platform provides insights into the most effective strategies for emissions reduction and helps businesses model various scenarios to develop actionable, science-based goals.

Validation:
After developing the targets, companies submit them to SBTi for validation. Carbmee helps ensure that the targets align with SBTi’s rigorous standards, offering a smooth validation process.

Implementation:
Once targets are validated, companies begin the implementation phase. Carbmee offers ongoing support through real-time emissions tracking, helping businesses stay on course to achieve their targets and adjust their strategies as needed to ensure compliance.

Setting and achieving science-based targets offers numerous benefits for companies beyond regulatory compliance and investor confidence. By aligning their climate goals with SBTi, businesses can:

Enhance Operational Efficiency:
The process of setting and meeting science-based targets often leads to improved operational efficiency, as companies adopt new technologies and practices to reduce their emissions. This can result in significant cost savings over time.

Boost Brand Reputation:
In today’s market, consumers are increasingly choosing to support companies that demonstrate a strong commitment to sustainability. SBTi-aligned businesses enjoy enhanced brand reputation and loyalty from environmentally conscious consumers.

Drive Innovation:
Setting ambitious emissions reduction targets encourages companies to invest in innovation and green technologies, leading to the development of new products and services that can drive growth in the sustainable economy.

Carbmee provides businesses with a comprehensive platform to help them navigate the complexities of SBTi target setting and implementation. From initial commitment to real-time emissions tracking, Carbmee’s solutions ensure that businesses can meet their science-based targets and contribute to global climate goals.

With Carbmee, companies can:

• Track emissions across all scopes (1, 2, and 3) to ensure they are meeting their SBTi-aligned goals.
• Optimize their sustainability strategies using data-driven insights to reduce emissions and improve energy efficiency.
• Monitor their progress in real time, ensuring they stay on track to meet their science-based targets and make necessary adjustments when needed.

By partnering with Carbmee, businesses can confidently take the next step in their climate journey and demonstrate their leadership in the transition to a sustainable economy. Learn more about how Carbmee can help your business set and achieve science-based targets.

The Science Based Targets Initiative (SBTi) provides a clear path for companies to align their climate goals with global efforts to limit warming to 1.5°C. By adopting science-based targets, businesses not only contribute to global climate action but also enhance their regulatory readiness, investor appeal, and competitive advantage.

Carbmee’s Emission Intelligence Solution supports companies at every stage of their SBTi journey, from initial target setting to ongoing emissions tracking and reporting. With Carbmee’s tools, businesses can reduce their environmental impact, achieve their science-based targets, and position themselves as leaders in the global effort to combat climate change. Learn more about carbmee EIS™ Carbon Management Solution.

To gain a complete understanding of EU climate regulations and explore how your business can achieve compliance, visit our Comprehensive Guide to EU Climate Regulations.